Mint Hill is located in a good market for 5+ unit multifamily loans. Multifamily loans in Mint Hill are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Mint Hill are competitive. Mint Hill apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Mint Hill.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mint Hill are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Mint Hill.
The city of Mint Hill in Mecklenburg County has a population of 27,617. The median rent in Mecklenburg County for a 2 bedroom is $1,243. The median Mint Hill resident is 44 years old with a yearly income of $34,052. The average family has 3.21 members and a median household income of $75,084. Mint Hill has a 39% higher education rate. The unemployment rate in Mint Hill is 3.5%.
22.4% of Mint Hill households are renters.
29.7% median household income spent on rent.
Bedrooms |
Mecklenburg County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,066 | $694 | $737 |
| 1 bedroom | $1,090 | $713 | $813 |
| 2 bedroom | $1,243 | $871 | $1,015 |
| 3 bedroom | $1,639 | $1,152 | $1,325 |
| 4 bedroom | $2,112 | $1,386 | $1,521 |
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